3 September 2013
BDA client Phillips-Medisize makes acquisition in China
Acquired Adval Tech Medical (Suzhou) and Omni Manufacturing (Mexico)
Business Development Asia LLC (“BDA”) is pleased to announce that its client Phillips-Medisize Corporation has acquired two manufacturing operations in Suzhou, China (Adval Tech Medical (Suzhou) Co Ltd) and Queretaro, Mexico (Omni Manufacturing Services SA de CV) from Adval Tech Group, for an undisclosed amount. Phillips-Medisize engaged BDA to assess and advise on acquisitions in China.
The Suzhou, China medical technology facility is both ISO 9001 and 13485 compliant and SFDA certified to manufacture finished drug delivery systems and related medical devices. The Queretaro, Mexico facility is both ISO 9001 and 13485 compliant and FDA registered to manufacture components and subassemblies, drug delivery systems and other related medical devices. The Mexico facility is also manufacturing injection molded components and decorative components for automotive and consumer applications.
Also, as part of the acquisition, Phillips-Medisize will be expanding its drug delivery development engineering capabilities with the addition of three Swiss engineers. Phillips-Medisize plans to retain all approximately 350 employees from both operations, which will ensure continuity for all existing customers of these operations. This will also position Phillips-Medisize to begin servicing its global customer base from these locations immediately.
Matt Jennings, President and CEO of Phillips-Medisize Corporation, said, “We are very pleased to welcome the China and Mexico employees to the Phillips-Medisize team. This acquisition reflects continued successful execution of our strategic acquisition growth strategy to offer our customers a global manufacturing and designing standard while providing local production and development capabilities. Because these facilities are state-of-the-art manufacturing sites to Switzerland standards, in China and Mexico, we expect these operations will integrate rapidly and seamlessly into Phillips-Medisize and be available immediately to support our global customers.”
About Phillips-Medisize Corporation
Phillips-Medisize is a leading global outsource provider of design and manufacturing services to the medical device and diagnostics, drug delivery and commercial markets. The company has annual sales of just under $500 million with 75% of the total revenue coming from drug delivery, medical device and diagnostic products such as: disposable insulin pens, glucose meters, specialty inhalation drug delivery devices, single use surgical devices and consumable diagnostic components. Phillips-Medisize Corporation features a list of blue chip medical device, pharmaceutical and commercial customers. The company partners with its customers to provide design and development services which accelerate speed to market of innovative products and then works with its customers to deploy advanced automated assembly and quality control technologies which reduce manufacturing cost while improving quality. The company’s core advantage is the knowledge of its people to integrate design, molding, and automation to drive low cost and high quality manufacturing solutions. Phillips-Medisize Corporation is headquartered in Hudson, WI, and employs over 2,100 people in 12 locations throughout the United States, Europe and China. The company also has design centers in Wisconsin, California, and The Netherlands.
About The Adval Tech Group
Adding value through innovations – that’s what Adval Tech stands for. As a global technology and process partner Adval Tech focuses on the complementary technologies of metal stamping and
forming and plastic injection molding. In selected markets in the automotive, medical technology and consumer goods sectors, Adval Tech is a leading global supplier of series parts, subassemblies, systems and tools. As a value-adding partner, Adval Tech covers the entire value chain: from product design and the development of volume components through design and production of the necessary molds and dies to complete manufacturing systems and the resulting production of components. Adval Tech trades on the markets under the names of AWM, FOBOHA, Omni, QSCH, Styner+Bienz and Teuscher.
Business Development Asia LLC (“BDA”) is a leader in cross-border investment banking in Asia. BDA advises on M&A, capital raising, and restructuring. BDA has been consistently owned and managed by the same team since 1996. BDA has a track record of providing independent advice to blue-chip corporate and financial sponsor clients from North America, Europe and Asia. BDA was named Investment Banking Firm of the Year by The M&A Advisor in both 2012 and 2010. BDA is headquartered in New York with offices in London, Beijing, Shanghai, Hong Kong, Mumbai, Bahrain, Seoul and Tokyo. BDA formed a partnership with William Blair & Company in 2011. BDA carries out its US securities business through BDA Advisors Inc. BDA Advisors Inc is a broker-dealer, registered with the US Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC. www.bdapartners.comwww.bdaadvisors.com
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